Daily Market Comment - 17/09/07

Tuesday, September 18, 2007

The market closed largely unchanged on Friday after trading in a wide range. Reports that Turkey's state grain board will seek permission to import 800,000 tonnes of wheat due to their drought there, was a supportive factor. Concerns over our harvest continue to add pressure.

Chicago wheat for December 2007 is up 1 cent to 846 cents per bushel.

Chicago corn for December 2007 is up 2 ¼ cents to 349 cents per bushel.

Winnipeg canola for November 2007 is up $4.90 to $437.00 Canadian per tonne.

AWB’s Multi-Varietal contract price (based on APW) for the 07/08 season is up $5 today at:

$385.00 – Newcastle
$390.00 – Port Kembla
$375.00 – Geelong
$370.00 – Portland
$380.00 – Brisbane
$327.00 – Gladstone
$365.00 – Port Adelaide
$341.00 – Port Lincoln
AWB’s 07/08 canola price is up $13 today at $590 per tonne, based on 42% oil, delivered Geelong.

All prices are quoted GST exclusive.

Sourced from AWB.